Question

a 's trial balance contains the following information discount allowed$ 1000, provision discount on account receivable$ 3000 it is to make provision for discount on account receivable$ 3500. the amount to be debited to profit and loss A/C​

Answer 1

Answer:

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Answer 2

Answer:

P & L A/c to be debited = New provision +Discount allowed - old provision

= Rs 3,500 + Rs 1000 - Rs 3,000.

= Rs 1,500 to be debited.